尽管中国将面临巨大的挑战和不确定性,我并不认为中国经济会硬着陆,否则那将是一场劫难。当下发生在中国的变化是完全可预测的。当然,我并不是指中国股票市场泡沫的破裂,股票市场泡沫的破裂是无可避免的。我指的是中国经济增速放缓,中国经济增速放缓有很多原因。这其中包括中国迅速地移动到价值链上游,而生产力增长的来源也逐渐消耗殆尽,人口老龄化以及投资回报率下降。无论这当中何种原因为主 Although China will face enormous challenges and uncertainties, I do not think the Chinese economy will make a hard landing or it will be a catastrophe. The changes that take place in China right now are completely predictable. Of course, I do not mean the burst of the Chinese stock market bubble. The burst of the stock market bubble is inevitable. I am referring to the slowdown of China’s economic growth and the slowdown of China’s economy. There are many reasons for this. These include China’s rapid move to the upper reaches of the value chain, the gradual depletion of sources of productivity growth, an aging population, and a decline in the rate of return on investment. No matter what the reason is the main one